Goldin Auctions -- Cheaper Cards?

[lakerman34]

Hi all,

So, I was watching Goldin Auctions auction that ended tonight.

Some of the prices (even with 20% buyer's premium) seem WELL under-valued. I'm finding eBay prices are generally higher (except for the ultra-mega-ridiculously high end cards).

Anyone else notice this?

[ljandkg]

No, I had a painful loss. Price seemed just too high.

[Totalpackage]

Some cards are undervalued but some are not, but I would still check Goldin Auction because they sometimes have pretty rare cards which don't typically show on eBay.

[Ericc5Bears]

For as much bragging as Ken does about the prices Goldin gets it seems like PWCC or even just basic ebay auctions by random accounts consistently get higher prices than them on anything under 20k or so.

[k13]

Harder to schill.

[pejc300]

Wow, a lot of stuff way down from last month. Over saturation I think. I know Ken is making bank, but I think he's ruining his brand by selling so many cards all the time. Some pretty big shockers.

[gameissued]

Too many junky things mixed in.. like common base cards (Kobe base Prizm not even graded gem-mint), cards from non-licensed no-name companies (Famous Fabrics?), and non-stars like Luka Samanic and Khris Middleton.

[Spacemanspif]

A Ferrari dealership should not be selling used Camrys.

Correction, they should not even be selling new Camrys.

Correction, they should not even allow someone who owns a Camry on their lot.

All this low end (<$5k stuff) should not be sold on high end auction houses. As a buyer it makes no sense to pay a white glove 20% BP for stuff you can easily find on the open market. As a seller it makes no sense to cut down your potential buyer pool by 90%.

[sportscardpete]

I think there’s just a dip in the market - a lot of auction houses will have some cards that slip through the cracks but in general prices aren’t as strong as they were in February. Some of the exquisites I thought sold for fair prices.

[regularp]

Originally Posted by gameissued

Too many junky things mixed in.. like common base cards (Kobe base Prizm not even graded gem-mint), cards from non-licensed no-name companies (Famous Fabrics?), and non-stars like Luka Samanic and Khris Middleton.

Originally Posted by Spacemanspif

A Ferrari dealership should not be selling used Camrys.

Correction, they should not even be selling new Camrys.

Correction, they should not even allow someone who owns a Camry on their lot.

All this low end (<$5k stuff) should not be sold on high end auction houses. As a buyer it makes no sense to pay a white glove 20% BP for stuff you can easily find on the open market. As a seller it makes no sense to cut down your potential buyer pool by 90%.

[Kobe101]

Originally Posted by Spacemanspif

A Ferrari dealership should not be selling used Camrys.

Correction, they should not even be selling new Camrys.

Correction, they should not even allow someone who owns a Camry on their lot.

All this low end (<$5k stuff) should not be sold on high end auction houses. As a buyer it makes no sense to pay a white glove 20% BP for stuff you can easily find on the open market. As a seller it makes no sense to cut down your potential buyer pool by 90%.

Agreed. I get Ken wants to challenge eBay but he doesn’t have a big enough buyer pool to handle all these non super high end auctions.

[Totalpackage]

I think Goldin Auction does has a pretty strong fanbase for high end stuffs who are prefer buying from Goldin rather than eBay. For example, I was watching this 1985 Star Last 11 Michael Jordan BGS 9.5 on Goldin which sold for around 12k last week but a similar card is only asking $7500 obo on eBay right now so I guess Goldin Auction is probably the No.1 place to go for high end stuffs in some collectors' minds who don't check eBay often.

[KhalDrogo]

It’s a reflection of how the auctions are designed. There were a number of cards that ended significantly lower than I expected. But I had never put any bids in during regular time, so couldn’t bud in extended time. Instead, the two things I bid on in regular time went for more than I wanted them for. Will be throwing in bids on anything I’m remotely interested in going forward.

[sebreg]

Originally Posted by Spacemanspif

A Ferrari dealership should not be selling used Camrys.

Correction, they should not even be selling new Camrys.

Correction, they should not even allow someone who owns a Camry on their lot.

All this low end (<$5k stuff) should not be sold on high end auction houses. As a buyer it makes no sense to pay a white glove 20% BP for stuff you can easily find on the open market. As a seller it makes no sense to cut down your potential buyer pool by 90%.

100%. Maybe Goldin chasing revenues too much they are watering down the auctions by trying to throw in so many Camrys. In fact, decent amount of those cards are nice cards but you can easily get them on ebay and what not. I was not understanding why people were trying to move some of these, won't call them commodity cards, but not as rare cards found on ebay via Goldin. Triple whammy: how do make your Camry stand out in a lot of Ferraris, buyer's premium hair cuts your margins, and like you say buyer pool much smaller (and self-selected likely looking for rare high-end not easily found cards).

Have to be careful not to outpace buyer pool $ with too much inventory (especially less-rare inventory). It's possible the "Camrys" came in as lots with higher end items from particular sellers, maybe pure convenience on seller's part to try and move all the product together rather than piece out the less-rare stuff to pwcc or sell themselves.

Figure Goldin chasing certain revenue growth #s, just have to successfully navigate how to manage the inventory/auctions so that you don't tank your product prices. It's a tricky line to navigate.

[wtscheel]

They have different auctions for high end and lets say just regular. The auction that ends yesterday is just a regular ole auction. The one at the end of the months are the bigger "premium" or "elite" auctions.

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[SteveToronto]

Goldin should have a separate company to sell lower priced cards and use that site just for highend stuff.

[Jay9Suited]

They are driving PSA 10 Jordan Fleers and Kobe Topps Chrome Refractor prices into the ground.

[sebreg]

Originally Posted by Jay9Suited

They are driving PSA 10 Jordan Fleers and Kobe Topps Chrome Refractor prices into the ground.

They also set the records on those no? i mean, maybe a thing to consider would be a limit on how many of one card they sell per auction, but then again the record setting fleer mj auction had two copies I believe. I think they are trying to grab as many $ on table as possible, and if the high prices pulling sellers out of the woodwork they will gladly try to move that inventory regardless.

[lakerman34]

I have quite a few things at Goldin right now. My 1980 Topps Magic/Bird/Dr. J PSA 7 sold for $3k, and I am pretty unhappy about that (turned down $5k about a month and a half ago -- really thought Goldin would get me more).

I just recently learned Goldin was the "kobe auction," and IDK, that makes me feel some sort of way. I may be taking my business to Heritage.

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[3124508 on COMC]

Originally Posted by lakerman34

I have quite a few things at Goldin right now. My 1980 Topps Magic/Bird/Dr. J PSA 7 sold for $3k, and I am pretty unhappy about that (turned down $5k about a month and a half ago -- really thought Goldin would get me more).

I just recently learned Goldin was the "kobe auction," and IDK, that makes me feel some sort of way. I may be taking my business to Heritage.

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I don’t know what you’re taking about with regard to the “Kobe auction”, but Heritage is a terrible auction house.

[lakerman34]

Originally Posted by 3124508 on COMC

I don’t know what you’re taking about with regard to the “Kobe auction”, but Heritage is a terrible auction house.

Goldin paid Kobe's mom to take all of his memorabilia, and then sued Kobe when he said that he wanted his memorabilia back/his mom had no right to do that.

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[sebreg]

Originally Posted by lakerman34

Goldin paid Kobe's mom to take all of his memorabilia, and then sued Kobe when he said that he wanted his memorabilia back/his mom had no right to do that.

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Interesting, I vaguely recalled some family memorabilia issues but didn't realize Goldin was involved. Wasn't Goldin involved in that old-school early 90s late night infomercial "scammy" card thing? can't remember details. If I had very high-end still prob go thru Goldin (although alternative maybe PWCC), but can't say I thoroughly trust either.

[sebreg]

Originally Posted by lakerman34

I have quite a few things at Goldin right now. My 1980 Topps Magic/Bird/Dr. J PSA 7 sold for $3k, and I am pretty unhappy about that (turned down $5k about a month and a half ago -- really thought Goldin would get me more).

I just recently learned Goldin was the "kobe auction," and IDK, that makes me feel some sort of way. I may be taking my business to Heritage.

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Unfortunately it's a bit of a roll of the dice when it comes to sending out for auctions. Given market volatility on this stuff price changes can happen in the interim waiting for item to auction. That's always a risk, then again, also lots of potential upside if market is popping.

[3124508 on COMC]

Originally Posted by lakerman34

Goldin paid Kobe's mom to take all of his memorabilia, and then sued Kobe when he said that he wanted his memorabilia back/his mom had no right to do that.

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Originally Posted by sebreg

Interesting, I vaguely recalled some family memorabilia issues but didn't realize Goldin was involved. Wasn't Goldin involved in that old-school early 90s late night infomercial "scammy" card thing? can't remember details. If I had very high-end still prob go thru Goldin (although alternative maybe PWCC), but can't say I thoroughly trust either.

I just looked this up and Goldin advanced her $450,000, so what were they supposed to do, just eat all that money? It seems like everything was resolved amicably with Goldin getting a few items to auction to make its money back and Kobe’s parents apologizing to him.

[sebreg]

Originally Posted by 3124508 on COMC

I just looked this up and Goldin advanced her $450,000, so what were they supposed to do, just eat all that money? It seems like everything was resolved amicably with Goldin getting a few items to auction to make its money back and Kobe’s parents apologizing to him.

Gotcha, yeah I didn't know the ins and outs of that situation. Just knew there was family drama between Kobe and his folks trying to auction his stuff off.